Soybean futures are 2 to 4 cents higher this morning as yesterday’s sellers take some profits off the table ahead of the weekend. They posted 16 to 17 1/4 cent losses in most contracts on Thursday. There wasn’t much evidence of long liquidation, with preliminary open interest for Thursday actually rising 5,844 contracts. Soymeal futures were down $6.40/ton, with soy oil 38 points lower. Palm oil prices were down 1.47% on the day. CONAB was not as low as other firms have gone, putting their updated 18/19 Brazil soybean estimate at 118.8 MMT vs. 120.07 MMT last month. They also pegged 18/19 exports at 75 MMT, UNCH from last month but down 8.865 MMT from 17/18. Agroconsult also released updated numbers, down 5.2 MMT from last month at 117.6 MMT.

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here